All Forum Posts by: JP Marzano

Hi Dan,

I've worked with Easy St quite a bit. They can be a bit on the pricey side and they can be selective on the development/construction side, but overall, they're solid. Ask for Josh or Matt. 

Ok thanks! They do hard money?

Hi Logan,

This is a 4-unit building in the city of Chicago (near west side - Ukrainian Village).

1 retail space on the ground floor, and 3 apartments above. All occupied.

Lot purchased in 2011, built (by owner) in 2016. 

Aggregate rents of $18,000. $2886/mo for T&I. 

Current value $2.7MM. $1.425MM owed on senior loan. No other liens. 

Borrower (100% owner of LLC) wants to take cash out (either HELOC, mezzanine, or preferred equity) to build a rooftop deck, and convert the garage to a studio apartment.

ARV is estimated at $2.9MM. No improvements will affect current tenants. Rents will increase upon completion of improvements.

Let me know if this looks feasible. 

Hi - I'm doing something like this right now in LA county (if you mean Los Angeles). Client purchased a property and had the parcels split. Doing a ground up construction of a SFR with ADU on one parcel. You can build on all 4 at the same time, if the numbers work. Happy to help if I can.

@Adam Cole not sure if you got this taken care of, but I might be able to help. Let me know either way...

@Eric Lowe 

Visionary Lending, REMN, and The Loan Store, and Oaktree Funding have this product. 

Hope this helps...

$200,000 request

Low credit (approx 610) - no public records

$2.7MM value

Approx 60% LTV

Fully stabilized (retail with apartments above) in Chicago. 

Thanks, guys...the borrower ended up taking out a 401k loan. 

Borrower has to pay off an IRS lien by 2/21 or they lien will increase dramatically. They have the necessary equity. Approx 75% LTV. Extremely low DTI but credit is awful. Are there any hard-money investors who would look at this. FYI - I'm a broker and all of my resources are unable to do this on a primary. Property is a SFR and is located in Connecticut. I'd appreciate any suggestions. Thanks!

My client is an owner/operator of a mixed-use (office/retail) project in Lake Forest, IL. He is seeking equity partner(s) with minimum increments of $200,000 (each increment gains 10% equity interest). He has owned the property for over 30 years and is currently restructuring the debt. ROI is formidable. Please contact me for more details.Thanks...